RBI Still Processing Our Old 500 & 1000 Rupee Notes !

The RBI has said that Rs 500 and Rs 1,000 notes, came back to banks when the Modi government demonetised high-value cash notes 15 months prior, are as yet being “processed for their arithmetical precision and validity”.

This is being done in a “facilitated way”, the national bank said.

“Particular certified receipts are being handled for their arithmetical exactness and validity and the compromise for the same is continuous. This data can, in this manner, be shared on consummation of the procedure and compromise,” the RBI said in answer to an RTI application recorded by a PTI journalist.

To a question on the quantity of demonetised notes, it stated, “…subject to future rectifications assuming any, emerging over the span of check process, the assessed estimation of determined monetary orders got as on June 30, 2017, is Rs 15.28 trillion (lakh crore)”.

Solicited to give the points of interest from the due date for completing the checking of demonetised takes note of, the RBI said: “indicated monetary orders are being prepared in a sped up way”.

As on date, 59 advanced Currency Verification and Processing (CVPS) machines are in activity in RBI for the reason, it said.

The answer did not determine the area of the machines.

“Moreover, eight CVPS machines accessible with business banks are additionally being utilized. Likewise, seven more CVPS machines on rent premise have been introduced at RBI provincial workplaces,” the RTI answer said.